IO Biotech, Inc. 8-K

What Happened

• IO Biotech, Inc. (filed 8-K on 2026-02-13) announced it received a notice from the Nasdaq Listing Qualifications staff that it is not in compliance with Nasdaq Listing Rule 5450(b)(2)(A) because the market value of its listed securities (MVLS) was below the $50 million minimum for 30 consecutive business days. The notice does not have an immediate effect on the listing — the company's common stock will continue to trade on the Nasdaq Global Select Market.
• Under Nasdaq Listing Rule 5810(c)(3)(C), the company has 180 calendar days from the notice date, until August 11, 2026, to regain compliance. Nasdaq stated compliance would be achieved if MVLS meets or exceeds $50 million for at least 10 consecutive business days during that period; Nasdaq may require a longer demonstration period and could ultimately issue a delisting notice if compliance is not regained. The company could appeal any delisting determination under Nasdaq procedures.

Key Details

• Filing date: February 13, 2026 (Form 8-K).
• Noncompliance trigger: MVLS below $50.0 million for 30 consecutive business days (Nasdaq Listing Rule 5450(b)(2)(A)).
• Compliance window: 180 calendar days from the notice; compliance deadline August 11, 2026.
• Regain standard: MVLS ≥ $50 million for at least 10 consecutive business days (Nasdaq may require longer).

Why It Matters

• For investors: failure to regain compliance could lead to delisting, which can reduce liquidity and limit where shares can be traded, often putting downward pressure on share price and investor access.
• The company has a defined timeframe and objective metric ($50M MVLS) to meet; there is no assurance it will succeed, but trading continues while the compliance period runs.